AkzoNobel Automotive & Aerospace Coatings Americas announced its plans to broaden its North American distribution with the sale of its U.S.-based branches to LKQ Corporation. The transaction is effective May 27, 2011. LKQ will carry the Sikkens, Lesonal and U-Tech brands.
"LKQ Corporation is one of the most recognized and respected names in the automotive industry," said AkzoNobel A&AC Americas General Manager AB Ghosh. “We’re proud to have them as a part of our growing North American network of distribution partners.
"We’re constantly challenging ourselves to improve our global leadership position. Our strength exists in our core competencies, which are providing exceptional products, technology and service to the collision repair industry. By moving toward independent distribution in North America, we can now bring even greater focus to those areas which make us unique and set us apart from our competition."
"We have long admired the body shop solutions offered by AkzoNobel," said LKQ Co-CEO Robert L. Wagman. "Their ability to deliver value-added solutions in combination with being a color technology leader makes it an honor to partner with the world’s largest coatings company.
"LKQ currently has relationships with thousands of collision repair shops throughout the United States. We’re excited about the opportunity to cultivate new opportunities with the AkzoNobel team. This transaction reflects LKQ’s commitment to being a one-stop-shop solution to the collision repair industry by providing superior products and services. By adding AkzoNobel’s portfolio of brands to our product offerings validates that commitment."
